ICI picks up central Athens building for 5.9 mln euros

November 21, 2019

 

 

 

 

Greek real estate investment company (REIC) Intercontinental International (ICI) has purchased a standalone building in the affluent central Athens district of Kolonaki for 5.9 million euros. 
 

The company, with assets of more than 100 million euros, said the building is located at 13 Tsakalov Street and that it was purchased from Pireaus Real Estate. No further information was provided.
 

With Greece's real estate market being driven higher by the country's economic recovery, REICs have been aggressively buying commercial property but prices have risen unexpectedly higher, say sector officials.

 

Low supply levels of prime assets are also pushing prices up after Greece's ten-year crisis resulted in a construction freeze and many commercial real estate assets were poorly maintained.

 

ICI recently raised 1.1 million euros to fund expansion plans through a covered seven year bond purchased by the Investment Bank of Greece

 

Featured homes for sale in Athens from Epsilon Team:

 

 

 

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The perfect view. Wake up in the mornings and feel inspired by the Acropolis. This fourth level apartment covers 161 square meters and features large balconies, two spacious bedrooms (one master) and two bathroomsPriced to sell.

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Neoclassic beauty. This 1936 detached house is in top condition. Split over two levels, its provides 3 bedrooms, 3 bathrooms, two fireplaces  and inner stairs. It stretches over 270 square meters and also features wooden floors, garden and storage areas. For those looking for more independent living.

AGENT: EPSILON TEAM

Special price for GreekGuru.net readers.

 

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